ConsenSys Announces $15m investment in Adhara venture

ConsenSys makes strategic investment in the future of liquidity management & international payments for decentralised financial markets built on Ethereum.

By Jon Watkins

LONDON, UK, October, 15, 2018—Global blockchain company ConsenSyshas formally announced a $15m investment in a new enterprise ethereum venture, Adhara, a real time, multi-currency global liquidity management and international payments platform. Adhara’s solutions will leverage tokenised fiat on the Ethereum blockchain, a smart contract-enabled distributed ledger.

“Our investment in Adhara shows the importance of enterprise-grade ethereum solutions in financial services,” says Joseph Lubin, founder of ConsenSys and co-founder of Ethereum. “With Adhara, we are investing in a quality team that has a track record of delivery and we believe they can play a leading role in establishing the future of decentralised financial networks for regulated environments.”

Adhara’s founding team includes CEO Julio Faura, founding chair of the Enterprise Ethereum Allianceand former Head of Blockchain at Santander, co-founder Edward Budd, former Chief Digital Officer at Deutsche Bank (GTB), and co-founder Peter Munnings, ConsenSys lead on Project KhoKha, the South African Reserve Bank’s initiative to test a high value settlement system in a regulated space running on Ethereum. Munnings is former head of Blockchain at FirstRand Bank in South Africa.

“The vision for Adhara has been coming together for a number of years, as the first generation of products in the space all fell short of fulfilling the promise of blockchain for payments and liquidity management in particular,” says Faura. “Adhara will deliver that promise in a practical way,”  

Adhara’s first set of products focus on liquidity management and international payments for decentralised financial networks. The Adhara team will join ConsenSys at Sibos at booth DZ 54.